Here are the comparative income statements of Delaney Corporation.

DELANEY CORPORATION Comparative Income Statements For the Years Ended December 31 2017 2016 Net sales $598,000 $500,000 Cost of goods sold 477,000 420,000 LO15 Gross profit 121,000 80,000 Operating expenses 80,000 44,000 Net income $ 41,000 $ 36,000 Instructions

(a) Prepare a horizontal analysis of the income statement data for Delaney Corporation, using 2016 as a base. (Show the amounts of increase or decrease.)

(b) Prepare a vertical analysis of the income statement data for Delaney Corporation for both years.